Daily Alert: Nerves inflating

  • Australian data showed a loss of momentum, leading to some softness in Australian interest rates during the day
  • Overnight, US markets got twitchier as tonight’s US inflation print looms closer: persistent inflation pressure will likely keep the US Fed on an aggressive tightening cycle and keep recession fears stoked
  • Within all this mix, the NZD has remained largely unchanged over the past 24 hours, getting some propping up from the expected 50bp OCR increase today

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